Paul Feenan Sells 1,632 Shares of Arqit Quantum (NASDAQ:ARQQ) Stock
by Tristan Rich · The Markets DailyArqit Quantum Inc. (NASDAQ:ARQQ – Get Free Report) CRO Paul Feenan sold 1,632 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $13.32, for a total value of $21,738.24. Following the completion of the sale, the executive directly owned 17,963 shares of the company’s stock, valued at approximately $239,267.16. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Arqit Quantum Price Performance
NASDAQ ARQQ opened at $13.97 on Friday. The business has a fifty day simple moving average of $16.26 and a 200 day simple moving average of $27.34. Arqit Quantum Inc. has a 12 month low of $11.00 and a 12 month high of $62.00.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Arqit Quantum from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. HC Wainwright reissued a “buy” rating on shares of Arqit Quantum in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Arqit Quantum in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Arqit Quantum has an average rating of “Hold” and a consensus target price of $60.00.
Read Our Latest Report on ARQQ
Institutional Trading of Arqit Quantum
Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Arqit Quantum by 222.9% in the 1st quarter. Royal Bank of Canada now owns 20,550 shares of the company’s stock worth $284,000 after purchasing an additional 14,186 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Arqit Quantum in the 2nd quarter valued at $268,000. JPMorgan Chase & Co. bought a new position in shares of Arqit Quantum during the 2nd quarter valued at $386,000. Legal & General Group Plc bought a new position in shares of Arqit Quantum during the 2nd quarter valued at $2,687,000. Finally, Quantbot Technologies LP purchased a new position in Arqit Quantum in the 2nd quarter worth $122,000. 16.60% of the stock is owned by institutional investors.
Arqit Quantum Company Profile
Arqit Quantum Inc is a UK‐based cybersecurity company specializing in quantum-safe encryption solutions designed to protect sensitive data from current and emerging cyber threats. The company’s core technology leverages principles of quantum physics to generate and distribute encryption keys in a way that remains impervious to attacks, including those enabled by future quantum computers. Arqit’s platform is designed to integrate with existing IT infrastructures without requiring hardware upgrades, offering end‐to‐end data protection for enterprises, governments and critical infrastructure providers.
The company’s flagship QuantumCloud platform uses a patented key distribution architecture to deliver symmetrical keys to endpoints across distributed networks.